The UK has now left the EU. We are in a transition period which is due to end on 31 December 2020. While most rules and requirements continue unchanged during the transition for most firms and most clients, it is prudent to keep up to date on the current position and what is likely to happen when the transition period ends.
The FCA has gathered all its BREXIT related information and links here.
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
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We thought it appropriate to issue a New Year reminder for firms that have staff … directly involved in the carrying on of the firm’s insurance distribution activities; or within the management structure responsible for the firm’s insurance distribution activities; or responsible for the supervision of a relevant employee acting in the capacity […]
As 2022 comes to an end, all our readers are probably thinking more about the imminent festivities and looking forward to a well earned break from what has undoubtedly been a difficult year in several obvious respects. We at ATEB are also looking forward to a few days off. However, without wishing to spoil […]
The FCA recently advised of incoming changes to how firms access FCA systems. In order to protect firms’ data, the FCA are to implement multi factor authentication (MFA). This will replace the current method used by firms to log into the FCA systems. Multi-factor authentication ensures only you access your accounts. Currently firms […]
As part of the Government’s reforms of previous EU legislation, next on the list is the proposal to scrap the 10% portfolio drop rule, which was introduced within MiFID II rules in January 2018. Under the legislation firms were required to notify clients where the overall value of their portfolio had fallen by 10% […]
FCA announce delay to multi-factor authentication
Richard Foster Compliance FCA, protection, Update
We wrote a few weeks ago about incoming changes to how firms access their FCA systems to upgrade data protection. You can read that article here. The new system will replace the current 6-digit passcode with the user needing to log in using a One Time Passcode (OTP). The implementation date of 20th January […]